Free Press Journal
  • Sensex jumps 322 pts on rate cut hopes; auto, banks surge

    Mumbai : Staging a surprise comeback, the benchmark BSE Sensex surged by 322 points to 27,828.44 on across-the-board buying in blue-chip stocks as investors started building fresh long positions in anticipation of a possible rate cut.

  • Rupee plunges to 64-level vs $

    Mumbai : Extending its decline for the second straight session, the rupee slumped to 64-level against the American currency after nearly two weeks before ending at 63.98, falling by another 41 paise on persistent dollar demand from banks and importers.     In the global market, the euro hit a one-month low against the dollar as fears lingered about the Greek debt situation, while the dollar hit a fresh two-month high against the

  • Good interest rate must for success of gold scheme: Nomura

    Mumbai : The government’s ambitious gold deposit scheme can succeed only if depositors are paid a higher interest rate and banks are given more regulatory exemptions, Japanese brokerage Nomura said.

  • A golden scheme for all

    The scheme to monetize gold is commendable but its implementation is still riddled with many ifs and buts. Unless further fine-tuned, it is highly unlikely that there will be much gold deposited with banks, especially by households. The scheme was announced by Finance Minister Arun Jaitley in the budget speech in February.  The objective was to put to productive use enormous quantities of gold lying with households. Banks accepting gold deposits were

  • Jaitley to meet PSU bankers

    New Delhi : Finance Minister Arun Jaitley will meet PSU bankers to discuss stake sale plans and the problem of rising bad loans which have crossed a staggering Rs 2.5 lakh crore. “Banks are coming to meet me. Some of the banks are meeting me with regard to some immediate issues” this week, he told PTI.

  • rupee high

    Rupee rises for third session vs USD, up 14 paise

    Mumbai: Continuing its rising trend for the third straight day, the rupee today rose by another 14 paise against the American currency to close at 63.51 on sustained selling of dollars by banks and exporters amid gains in equities. Banks and exporters preferred to reduce their dollar position on expectation of more foreign capital inflows in view of recovery in the equity market. At the Interbank Foreign Exchange, the domestic unit resumed strong at 63.50 a dollar

  • BSE

    Sensex up 374 pts on rate cut hopes

    Mumbai :  The benchmark BSE Sensex rebounded by 374 points on Wednesday to reclaim the 27,000-mark on heavy buying in banks, consumer goods, capital goods and auto stocks on rate cut hopes triggered by drop in inflation and IIP numbers.

  • Asset quality woes not over for banks: Crisil

    Mumbai : Asset quality woes of banks will continue in the current fiscal with gross non-performing assets (NPA) ratio for the system growing at 0.20 per cent to 4.5 per cent by March 2016, credit rating firm Crisil said.

  • RBI

    Bankers hint at lowering lending rates

    Mumbai: After RBI’s second surprise rate cut in as many months, bankers today hinted at lowering lending rates, but stressed monetary policy gets transmitted with a lag. “Since there is a lag effect for monetary transmission, the effect of the previous 0.25 per cent cut together with the present reduction would accentuate banks to review their base rates,” Indian Banks Association (IBA) Chairman and Indian Bank chief T M Bhasin said.

  • China

    China eases market access for foreign banks

    Beijing: China has eased rules which will provide market access for foreign banks, in a move to further open up the domestic banking sector.

  • Rajan for incentivising domestic savings

    “A ‘Volcker’ like disinflation was never on the cards in India, but an Urjit Patel glide path fits us very well, ensuring moderate growth even while we disinflate” (more…)

  • RBI relaxes ECB norms 

    Mumbai : The Reserve Bank eased norms to refinance external commercial borrowings (ECB) and allowed banks to approve even those cases where the average maturity period (AMP) of fresh borrowings exceeds residual maturity of existing loan, reports PTI. However, borrowers would be required to follow certain conditions to avail for a fresh ECB.

  • Hundreds attend Natu’s funeral

    Ujjain : Sulabha Natu (63), wife of Diwakar Natu, chairman of Simahastha Fair Authority and herself a renowned educationist was given cremated at electric crematorium at Chakrateerth Ghat, near the banks of river Kshipra, here on Sunday morning. Prior to it, hundreds of citizens and dignitaries including educationists and sportsmen attended the procession which was taken out from her residence at Adarsh Nagar, Dewas Road. Personalities including School Education Minister Paras Jain,

  • Kingfisher Airlines moves SC to save Kingfisher House

    NEW DELHI : Kingfisher Airlines Ltd today moved the Supreme Court challenging the Karnataka High Court’s January verdict that allowed a consortium of 15 banks led by State Bank of India to take possession of company’s prestigious Mumbai property, Kingfisher House.

  • A K Khadke

    ‘Wilful defaulters are increasing’

    A K Khadke, General Manager of Central Bank of India speaks to Business Editor Jagdish Rattanani about the mood this Diwali. Excerpts from the interview: